Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
MCHP Market Growth Projections and Opportunities
The global market for micro combined heat and power (MCHP) is witnessing significant growth, primarily driven by the increasing demand for efficient and competitive energy systems.
Projections indicate a substantial Compound Annual Growth Rate (CAGR) of 12.20% for the global MCHP market during the forecast period from 2021 to 2027. In the year 2020, Asia-Pacific dominated the MCHP market, commanding a significant 40.1% share, followed by North America and Europe with shares of 22.4% and 20.3%, respectively.
The segmentation of the global micro combined heat and power market is based on capacity, fuel, prime mover, application, and region. Regarding capacity, it has been divided into up to 2 kW, 2 kW-10 kW, and 10 kW-50 kW. The up to 2 kW segment is anticipated to experience the fastest growth during the forecast period, holding a substantial 46.7% share in 2020.
In terms of fuel, the market is categorized into natural gas & LPG, coal, renewable resources, and oil. The natural gas & LPG segment is poised for faster growth, having secured a dominant 64.9% share in the global MCHP market in 2020.
The prime mover segment includes Stirling engine, internal combustion engine, and fuel cell. The stirling engine segment is expected to exhibit accelerated growth during the forecast period, commanding a 46.7% share in 2020.
Application-based segmentation comprises residential (involving space heating/cooling, water heating, cooking, lighting, EV charging, and others) and commercial (encompassing educational institutes, office buildings, healthcare buildings, and others). The residential segment is predicted to witness swifter growth during the forecast period, having held a substantial 61.3% share in the global MCHP market in 2020.
This comprehensive segmentation underscores the diverse aspects and potential growth areas within the global micro combined heat and power market. The dynamic landscape of capacities, fuel sources, prime movers, and applications reflects the evolving preferences and needs in the quest for more efficient and sustainable energy solutions worldwide.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 13.5% |
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
